SumUp, a leading global fintech company, has completed a major financial transaction demonstrating the market’s confidence in its solid and promising economic model. The company successfully raised €1.5 billion from private investors in a funding round led by Goldman Sachs, marking one of the largest European refinancing operations in recent years. The funds obtained will be deployed for the refinancing of existing debt and to seize growth opportunities globally. With this transaction, existing and new investors have expressed renewed confidence in SumUp’s robust business model. Indeed, the company has posted positive EBITDA since December 2022 and sustained growth over more than a decade. The strong market interest resulted in subscription far exceeding initial expectations, highlighting the strong demand from investors to participate in this initiative.
New investors in this round include AllianceBernstein, Apollo Global Management, Arini, Deutsche Bank AG, Fortress Investment Group, SilverRock Financial Services and Vista Credit Partners. They join existing investors such as funds managed by BlackRock, Crestline Investors, Liquidity Capital, Oaktree Capital Management, Sentinel Dome and Temasek, with Goldman Sachs leading the private credit operation.
SumUp has always enjoyed strong and consistent support from the investment community, and it is this continued support that has allowed us to grow sustainably over the past ten years, supporting millions of traders of all sizes. sizes worldwide. As our business has evolved and we have expanded our portfolio of services and products, our capital markets needs have also evolved. Lenders understand and support our mission to create an ecosystem where everyone can build a successful business, and recognize our effective methods for achieving, maintaining profitability and accelerating growth. This new round of financing will help us develop our offering to merchants by providing them with the products and tools necessary for their success.
explains Hermione McKee, CFO of SumUp
SumUp has demonstrated its ability to reconcile sustainable growth and fiscal responsibility while maintaining prudent cash management. With this fundraising, the Company is well positioned to actively seize organic and inorganic market growth opportunities and continue to create value for its shareholders while supporting the success of its merchant customers.
Freshfields Bruckhaus Deringer LLP acted as legal advisor to SumUp in the fundraising.
SumUp is a leading international fintech focused on leveling the playing field for small businesses. Founded in 2012, SumUp is the financial partner of more than 4 million small merchants in 36 markets worldwide. SumUp supports traders, self-employed people and micro-enterprises to start, manage and develop their business. Through its SuperApp, SumUp can provide merchants with a free business account and card, online store and invoicing solution – as well as in-person and remote payment acceptance seamlessly integrated with merchant terminals. cards and cash registers at SumUp points of sale. SumUp is committed to leveraging its success to make the world a better place, pledging to donate 1% of its revenue to environmental causes and supporting educational and entrepreneurial projects around the world. In 2023, SumUp was recognized as a Global Best Employer for Inclusion by the Stonewall Workplace Equality Index.
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